Cardano Trading Down 3.9% This Week (ADA)

Cardano (ADA) traded up 2.5% against the U.S. dollar during the 24-hour period ending at 16:00 PM E.T. on May 2nd. One Cardano coin can now be purchased for $0.46 or 0.00000771 BTC on popular cryptocurrency exchanges. Cardano has a market cap of $16.24 billion and approximately $373.47 million worth of Cardano was traded on exchanges in the last day. In the last seven days, Cardano has traded down 3.9% against the U.S. dollar.

Here’s how related cryptocurrencies have performed in the last day:

• Ethereum (ETH) traded up 2% against the dollar and now trades at $2,988.15 or 0.05054164 BTC.
• Avalanche (AVAX) traded up 3.5% against the dollar and now trades at $33.64 or 0.00056900 BTC.
• NEAR Protocol (NEAR) traded 0.1% lower against the dollar and now trades at $6.06 or 0.00010252 BTC.
• Internet Computer (ICP) traded up 2.5% against the dollar and now trades at $13.27 or 0.00022450 BTC.
• Uniswap (UNI) traded 2.6% higher against the dollar and now trades at $7.11 or 0.00012020 BTC.
• Hedera (HBAR) traded down 2.1% against the dollar and now trades at $0.0993 or 0.00000168 BTC.
• Cronos (CRO) traded up 2.2% against the dollar and now trades at $0.13 or 0.00000215 BTC.
• Cosmos (ATOM) traded up 3.1% against the dollar and now trades at $8.65 or 0.00014626 BTC.
• Fetch.ai (FET) traded 1.2% higher against the dollar and now trades at $2.00 or 0.00003381 BTC.
• Algorand (ALGO) traded up 2.2% against the dollar and now trades at $0.18 or 0.00000309 BTC.

Cardano Coin Profile

ADA is a proof-of-stake (PoS) coin that uses the Ouroboros hashing algorithm. Its genesis date was September 1st, 2017. Cardano’s total supply is 36,841,202,420 coins and its circulating supply is 35,646,240,829 coins. The Reddit community for Cardano is https://reddit.com/r/cardano and the currency’s Github account can be viewed here. The official message board for Cardano is medium.com/feed/cardanorss. Cardano’s official website is www.cardano.org. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here.

According to CryptoCompare, “Cardano (ADA) is a Proof-of-Stake blockchain that supports smart contracts and enables the creation of decentralized apps (dApps), tokens, and more. It is designed to be scalable, sustainable, and flexible. The Cardano network uses Ouroboros, a Proof-of-Stake consensus mechanism, which allows ADA token holders to delegate their tokens to staking pools run by validators to validate transactions. Cardano was launched in 2017 by Charles Hoskinson and Jeremy Wood and is now maintained by three organizations and its community. ADA is the native token of the Cardano network and is used to pay for transaction fees and can be used for governance or to earn rewards through Proof-of-Stake consensus. The current era, Basho, focuses on scalability and network optimization, while the final era, Voltaire, will bring voting and treasury management to the network.”

Cardano Coin Trading

It is usually not currently possible to buy alternative cryptocurrencies such as Cardano directly using U.S. dollars. Investors seeking to acquire Cardano should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Cardano using one of the aforementioned exchanges.

ADA/USD price chart by TradingView